Number: RL31666
Title: Fair Credit Reporting Act: Rights and Responsibilities
Authors: Margaret Mikyung Lee, American Law Division 
Abstract: The Fair Credit Reporting Act (FCRA) establishes a consumer's rights in relation to his or her credit report. It also imposes certain responsibilities on those who collect, furnish and use the information contained in a consumer's credit report. This report discusses a consumer's rights under the FCRA, as well as the type of information included in a consumer's credit report, permissible uses for credit reports, disclosure requirements, and requirements for users of consumer credit reports and furnishers of information. Also addressed are amendments made by the Fair and Accurate Credit Transactions Act of 2003 to the FCRA aimed at preventing identity theft and assisting victims. Congress is currently considering legislation that would amend the FCRA to include provisions related to data security and information brokers.
Pages: 12
Date: May 4, 2007